Nervos Network (CKB) is an open source project that brings together protocols and a public blockchain ecosystem. The Nervos network solves the major challenges faced by platforms like Ethereum or Bitcoin.
The core design principle of Nervos is that Layer 2 will operate a variety of solutions, including the Nervos App Chain to focus on scalability and dApps for users. Instead of decentralizing into protected base layers through consensus mechanisms, most are unverified and refreshed for ultimate performance and TPS. Nervos network uses layer 2 with almost unlimited transaction capacity and minimal transaction costs for layer 1 of blockchain with secure, decentralized design.
The Nervos network is considered a decentralized application network with a layered architecture. CKB (Common Knowledge Byte) is a blockchain protocol designed to serve the entire ecosystem. Unify to build a decentralized architecture that has arbitration for all higher levels and enables the implementation of limitless possibilities of configurations belonging to different Layer 2 protocols.
As mentioned, Nervos Network consists of 2 layers:
Layer 1: CKB – an open public blockchain structure based on PoW mechanism.
Layer 2: Nervos extends centralization with Side-chains, State Channel and Plasma Chains solutions.
CKB is a utility token in the Nervos blockchain network. CKB stands for “CK Byte” or “Common Knowledge Byte”. If a user holds 1000 bytes of CK, they will have the right to store 1,000 bytes of data on the Nervos Common Knowledge Base.
Nervos Network is being built by a team of experienced developers in the crypto space. Previous projects led by core team members include Ethereum clients (ruby-ethereum and pyethereum), creators of imToken – the world’s largest Ethereum wallet, Spark Pool – the largest ETH mining pool, Cryptape – leading blockchain engineering team, CITA, Peatio with core protocol research and development for Ethereum and Bitcoin.
Nervos Network Co-Founders | Source: Nervos Network
Terry Tai: Core developer at crypto exchange Yunbi & Peatio, co-founder of Teahour.fm, one of China’s most popular tech podcasts.
Daniel Lv: Former CTO of imToken (world’s most popular Ethereum wallet), former CTO of Yunbi and co-founders of ruby-china.org, KOL.
Kevin Wang: Launch School co-founder. Previously, Kevin studied enterprise lab data solutions as an engineer at IBM Silicon Valley.
The problem CKB will solve?
The CKB development team outlines some of the problems blockchain platforms face:
- Previous generations of blockchains like Bitcoin and Ethereum are facing scalability issues.
- Several technologies are applied to extend scalability, such as sharding. However, this technology still has complex structural problems and performance is not so good as the number of shards increases.
- Off-chain scaling solutions, the cost of the consensus mechanism is often expensive because Publicission Permissionless.
- As the number of users and applications running on the blockchain increases, the amount of data stored on it increases.
- Current blockchain solutions are concerned with the cost of consensus and computation. It also allows users to partially pay for their data to be hosted and choose a plan on hosting nodes. But the price of crypto is always changing, and users will have a hard time when the price of crypto increases.
Currently, the CKB token has not been widely sold, so there is little information. However, observing the platform structure as well as the projects launched on CKB, this token can bring potential in the future. The demand for using CKB increases as the number of dApps increases and the amount of data and the number of users increases. To be able to accurately evaluate this token, you have to wait after the mainnet is successful and widely available to consider.
You can see the CKB price here.
According to AZCoin News
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